Upliance.ai secures $4 million in funding, spearheaded by Khosla Ventures
- ByStartupStory | February 8, 2024
Upliance.ai, a home appliance company, has raised Rs 34 crore (approximately $4 million) in its seed round, valuing the company at Rs 143 crore ($17 million). The funding is led by Khosla Ventures, known for its investments in AI-focused startups like OpenAI, Rabbit, and Sarvam.
“With this round, upliance.ai aims to grow its revenue to Rs 150 crore in 2024 and scale production to 20,000 units per annum within the next 6 months,” said Mahek Mody, Co-founder of upliance.ai.
Founded by Mahek Mody and Mohit Sharma, upliance.ai specializes in creating home appliances that integrate machine learning and artificial intelligence to enhance Indian households’ capabilities.
“Our flagship device, upliance, an AI cooking assistant, utilizes our proprietary model, Up AI, to understand the intricacies of food, cooking, and kitchen tasks, enabling autonomous execution,” explained Mohit Sharma, Co-founder of upliance.ai.
Launched in January 2023, upliance is already in use in nearly 1,000 homes across India, indicating its rapid adoption and popularity among consumers.
“Investors in last year’s pre-seed round included Draper Associates, Rukam Capital, Rainmatter, and prominent angel investors, demonstrating confidence in our vision and potential,” added Mahek Mody.
Khosla Ventures, with its diverse portfolio including Doordash, Block, Instacart, Gitlab, and Stripe, brings valuable expertise and resources to upliance.ai’s journey.
“With over $15 billion of assets under management, Khosla Ventures invests across various sectors, including AI, sustainability, enterprise, consumer, health, and frontier technologies,” noted Mohit Sharma.
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